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Russia's crude oil output fell to its lowest level in a year in May amid a record series of Ukrainian strikes on oil refining, export, and pipeline infrastructure.

Source: Bloomberg

Details: According to OPEC data based on secondary sources, Russian companies produced an average of 9.009 million barrels of oil per day in May – 690,000 barrels per day below the level Russia was required to maintain under its OPEC+ agreement.

In May, Ukraine carried out at least 31 strikes on Russian oil refineries, maritime export terminals and pipeline infrastructure, the highest monthly figure since the start of the full-scale invasion.